Since 2015, the Günther Rid Foundation for Bavarian Retail has been organizing UnternehmerTUM the innovation competition "Retail in Transition." This year's RID Future Congress will look back at the past five award-winning years. A high-profile partner for the future will also be announced.
The price "Trade in transition" honors ideas and concepts from medium-sized retailers, startups, and student teams. These are designed to enhance the in-store shopping experience, leverage digital technologies for the shopping process, promote collaborations between retailers, or cleverly combine online and offline shopping.
The competition is supported by the Bavarian Ministry of Economic Affairs, the Bavarian Retail Association, the Bavarian Chambers of Industry and Commerce, and UnternehmerTUM as implementation partner. Starting next year, Munich Airport will also join as a partner. Michaela Pichlbauer, Chairwoman of the Günther Rid Foundation for Bavarian Retail, says:
"We are delighted that Munich Airport will not only provide free space for winners of the innovation competitions but will also support "Handel im Wandel" as a co-organizer starting in 2020."
Jens Hassler, Head of Business Development and Marketing at Munich Airport, says:
"Munich Airport has become aware of the "Retail in Transition" innovation competition through the many innovative ideas it has generated for the retail of the future. We are therefore very happy to cooperate as a co-organizer in 2020 and look forward to supporting startups and SMEs in Bavaria together with our existing partners."
Future Congress looks back
The Rid Foundation used the Future Congress as an opportunity to reflect on the past years and conducted an evaluation with the help of previous participants. Over the past five years, approximately 250 applications were received for the "Retail in Transition" competition. 90% of the submitted ideas and solutions were based on technological solutions and largely pursued industry-independent ideas. 90% of all submissions were aimed at end customers, and only 10% of the solutions addressed the daily work of retailers. The primary goal of the solutions was to improve the shopping experience for end customers.
Most participants stated they would like to see the competition continued. They see potential for development primarily in a more intensive coaching process and better connections between startups and retailers. Participants also want more opportunities to test in real-life retail contexts and further networking opportunities.
